Media Advisory: Financial literacy challenge to test teens’ skills

By Matthew Biddle

BUFFALO, N.Y. -- As National Financial Literacy Month kicks off this April, nearly 800 high school students across Western New York will compete in MoneySKILL® Mania, an in-school financial literacy challenge sponsored by the University at Buffalo School of Management and M&T Bank.

For the eighth annual competition, a record 799 students from 24 area high schools will be quizzed on a range of financial topics, including income, budgeting, mortgages, stocks, bonds, interest and credit. The top-scoring student from all schools will receive an Apple iPad, while the second- and third-highest scoring students will each win $250. The top student at each participating school will win a $50 Amazon gift card.

Where: While the competition takes place at individual schools, media are invited to see MoneySKILL Mania in action at Hutchinson-Central Technical High School (Buffalo PS 304), 256 S. Elmwood Ave. (Enter through the side door on Johnson Park and continue down the stairs to the attendance office.)

When: 11-11:35 a.m. on April 2.

What: Students in Hutch-Tech’s U.S. Army Junior ROTC class will participate in a quiz-show-style test of MoneySKILL concepts, during which media are encouraged to capture photos and video footage. Cynthia Shore, senior assistant dean and director of alumni engagement and external relations at the UB School of Management, and retired 1st Sgt. Stephen Frazier, teacher, Army JROTC at Hutch-Tech, will speak on the benefits of MoneySKILL and financial literacy education, and will be available for interviews after the event.

Why: Young people consistently demonstrate poor understanding of personal finances, according to the Jump$tart Coalition for Personal Financial Literacy. The competition aims to increase awareness of MoneySKILL, a free online curriculum designed to educate students on a variety of personal finance topics. The MoneySKILL program was developed by Lewis Mandell, PhD, professor emeritus of finance and managerial economics in the UB School of Management, for the American Financial Services Association Education Foundation.

The UB School of Management is recognized for its emphasis on real-world learning, community and economic impact, and the global perspective of its faculty, students and alumni. The school also has been ranked by Bloomberg Businessweek, the Financial Times, Forbes and U.S. News & World Report for the quality of its programs and the return on investment it provides its graduates. For more information about the UB School of Management, visit mgt.buffalo.edu.

The University at Buffalo is a premier research-intensive public university, the largest and most comprehensive campus in the State University of New York. UB’s nearly 30,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.